Latest News and Opinion

The price of gold slumped to an 18-month low on Monday. With gold’s plunge garnering media attention lately, you are probably wondering whether gold has hit a bottom or whether it will continue to fall.

Fortunately, if you’ve been following along with my advice throughout the past year, you’ve been on the right side of the gold market.

Overshadowed by the “dollar” last week was the Bureau of Labor Statistics. The BLS reported the US CPI had increased in July 2018 by the highest rate since December 2011. Running at 2.95% year-over-year, consumer prices accelerated a little from June’s pace. Not only that, the CPI’s core rate of inflation sped up to 2.35%. […]

There is just something about August. It is irresistible, apparently, in all the wrong ways. For starters, there are big ones and small ones but somehow they all line up against liquidity and plentiful eurodollar money. In the former class there was, of course, August 9, 2007, August 9, 2011, and August 10, 2015. Even […]

A good old-fashioned currency crisis is brewing, and it may be the catalyst gold prices need to return to bullish mode.
Turkey is mired in a currency crisis with international implications.
And that’s making gold a safe haven again…
Tags: Gold Prices…

Recent weakness in withholding tax collections through the end of July accurately informed us that a negative surprise was coming in last Friday’s nonfarm payrolls report, which showed a slight decline in the number of new jobs.

Is JPMorgan Chase Out of Controls? – Bloomberg

…May 10, Dimon, JPMorgan’s CEO, certified in the company’s first-quarter report with regulators that JPMorgan’s internal controls were effective as of March 31. JPMorgan’s chief financial officer, Douglas Braunstein, certified the same. Both said they had disclosed “any change” that occurred during the first quarter “that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.” They also said the company’s disclosure controls and procedures — a related category of internal controls — were effective.

Those statements were incorrect. It turns out some of the company’s traders had been mismarking their books….

By the time Dimon and Braunstein certified in May that the company’s controls were effective, the company already had acknowledged that it had given false first quarter value-at-risk numbers for the chief investment office — which was prima facie evidence that its controls had a serious weakness.

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